The European Banking Authority is concerned about the quality and structurally low profitability of European banks’ assets, despite their solid capital and liquidity positions.
Regions
Covid, recession and Brexit to influence UK regulation in 2021
Significant macroeconomic headwinds including a Covid-19-induced recession, mounting debt and the end of the Brexit transition period will impact all areas of financial services in 2021, meaning plenty more work for compliance departments over the course of 2021. By Frank Brown, risk and transformation practice lead at Bovill.
China gears up for launch of digital currency – with global implications
Residents of Suzhou, an ancient city in the Yangtze Basin, recently pioneered China’s new digital currency – and banks and fintechs are taking note.
Global regulation in 2021: reaction, reflection and a return to priorities
The year 2020 defied expectations and saw disruption to both financial markets and regulatory agendas. As the world recovers, 2021 is shaping up to be defined by continued regulatory reactions to the Covid-19 pandemic, and geopolitical changes such as the UK’s exit from the EU.
Financial firms will have to adapt to seismic changes this year
The year 2020 generated seismic shifts in the structure of markets, ways of working, the landscape of risks and paths of recovery. Harnessing these requires firms to prioritise a purposeful recovery, resilience and restructuring in the year ahead. By Adam Markson, head of UK and Ireland risk practice at Accenture.
FSB warns of climate change threat to financial stability
Policy-makers and their advisers have at last recognised the implications of climate change on financial stability, marking a sea change in political sentiment on this issue. By Victor Smart
NYSE delists three Chinese companies following Republican criticism
The New York Stock Exchange (NYSE) reversed a decision not to delist three Chinese telecoms companies following pressure from the US Department of the Treasury.
Fed gives US banks greenlight to resume share buybacks
The most profitable US banks have been given the green light by the US Federal Reserve to resume share buybacks this year following a six-month ban relating to the economic effects of the Covid-19 pandemic.
OCC criticised over climate change stance
A formal comment was submitted to the Office of the Comptroller of the Currency (OCC) by Ceres, claiming the agency is fundamentally misrepresenting climate risk management, and warned that it could endanger the country’s banking system and economy.
European open-ended funds showed resilience during March market volatility
Open-ended type funds in Europe did a good job managing the market turmoil caused by the Covid-19 pandemic in March 2020
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